Comments on RBC simplification, PCA relief due in May
Comments on a number of proposals issued by NCUA and the Consumer Financial Protection Bureau (CFPB) are due in May.
A complete list of proposals and other rulemakings CUNA is tracking can be found on CUNA’s Advocacy Action homepage.
Comments due in May include:
- May 10: NCUA proposal to add “S” for “sensitivity risk” to the CAMEL rating system;
- May 10: NCUA advance notice of proposed rulemaking on simplification of risk-based capital requirements;
- May 10: CFPB proposal to make several significant amendments to Regulation X in connection with the pandemic;
- May 17: Interagency proposed questions and answers regarding the implementation of private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012;
- May 19: CFPB proposal to extend the effective date of two finalized rules on debt collection practices to Jan. 29, 2022 (60 days past the original date of Nov. 30, 2021);
- May 24: NCUA temporary interim final rule to permit federally insured credit unions to use asset data as of March 31, 2020 to determine applicability of certain asset thresholds during calendar years 2021 and 2022; and
- May 24: NCUA interim final rule to make NCUA’s regulations regarding the Central Liquidity Facility consistent with enhancements to the CLF provided in the Consolidated Appropriations Act of 2021.